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Government-Backed Cryptocurrency in Venezuela: An Innovation or a Fake?

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Government-Backed Cryptocurrency in Venezuela: An Innovation or a Fake?

Post by Vladdirescu on Wed Jan 10, 2018 11:58 pm

Venezuela plans on issuing a government-backed cryptocurrency called “petro”. The currency will be the first digital money actually backed by resources such as gold, oil, gas or diamonds.

The idea seems quite interesting and new, however, the community is mostly sceptical towards it. First of all, because the very existence of a government-backed cryptocurrency is contradictory to the idea of digital money - a free, decentralized and uncontrolled system.

Read more on Coinidol: https://coinidol.com/government-backed-cryptocurrency-in-venezuela-innovation-or-fake/


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